bigjohnstud4200

Target Redcard increased to $5000

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These comments are actually somewhat taken out of context. The topic at the time had transitioned to Cap One cards, which I was referring to in the original post.

Sorry for the confusion :shock:

Your chances of conversion remain the same as the rest of us.

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I applied and received the (subprime) Redcard in 9/05 at $200 and got a CLI to $500 6 months later. I got turned down 3 or 4 times for a CLI and then in 8/07, they upgraded me to a $1000 Visa, and I got a $500 CLI after another 6 months.

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Good to know - will the subprime card ever be examined for transition to Visa? Or should one apply for the Visa?

The Standard Operating Procedure is that any hard pulls for an account determine the portfolio strategy. Once in a certain strategy, a soft pull will have to go way above and beyond the normal threshold of the respective strategy in order for the card to be "upgraded". When one is asking a creditor for a lower APR or a higher limit, most of the time one is inadvertently asking for his/her portfolio strategy to be changed.

For example, say a FICO 720 and acceptable DTI, acceptable BNI, etc.. is strategy "wx5c" and that strategy has a max APR of Prime +3.99 and a max limit of $10,000. Similarly say 620 lands you in strategy "vx5c" and that strategy has a max APR of Prime +12.99 and a max limit of $500.00. In order for a soft pull and normal account review to put you onto the "wx5c" strategy your soft pull might have to be 760+ and meet income and other score qualifications satisfactorily. So, you could very well be sitting there at 730 and are actually qualified for the "wx5c" strategy, but you will never get it "automatically" until you hit that higher threshold.

Now, assume in the same situation, that you still have that 730 and you call in and request an account transfer and they take a hard pull. You will now be examined on the merit of that application and your lower account strategy will not be counted against you. However, if you have a bad internal behavior score that WILL BE counted against you.

This is an overly simplified example, of course. I hope I articulated it OK. This is how it works for most larger banks. Whether or not it works this way for Target Card Services, I don't know for certain. Using the responses in this thread as anecdotal evidence, I tend to think so.

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The Standard Operating Procedure is that any hard pulls for an account determine the portfolio strategy. Once in a certain strategy, a soft pull will have to go way above and beyond the normal threshold of the respective strategy in order for the card to be "upgraded". When one is asking a creditor for a lower APR or a higher limit, most of the time one is inadvertently asking for his/her portfolio strategy to be changed.

For example, say a FICO 720 and acceptable DTI, acceptable BNI, etc.. is strategy "wx5c" and that strategy has a max APR of Prime +3.99 and a max limit of $10,000. Similarly say 620 lands you in strategy "vx5c" and that strategy has a max APR of Prime +12.99 and a max limit of $500.00. In order for a soft pull and normal account review to put you onto the "wx5c" strategy your soft pull might have to be 760+ and meet income and other score qualifications satisfactorily. So, you could very well be sitting there at 730 and are actually qualified for the "wx5c" strategy, but you will never get it "automatically" until you hit that higher threshold.

Now, assume in the same situation, that you still have that 730 and you call in and request an account transfer and they take a hard pull. You will now be examined on the merit of that application and your lower account strategy will not be counted against you. However, if you have a bad internal behavior score that WILL BE counted against you.

This is an overly simplified example, of course. I hope I articulated it OK. This is how it works for most larger banks. Whether or not it works this way for Target Card Services, I don't know for certain. Using the responses in this thread as anecdotal evidence, I tend to think so.

That makes a lot of sense. You explained it very well. Do you have banking/lending experience? Thanks!

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The Standard Operating Procedure is that any hard pulls for an account determine the portfolio strategy. Once in a certain strategy, a soft pull will have to go way above and beyond the normal threshold of the respective strategy in order for the card to be "upgraded". When one is asking a creditor for a lower APR or a higher limit, most of the time one is inadvertently asking for his/her portfolio strategy to be changed.

For example, say a FICO 720 and acceptable DTI, acceptable BNI, etc.. is strategy "wx5c" and that strategy has a max APR of Prime +3.99 and a max limit of $10,000. Similarly say 620 lands you in strategy "vx5c" and that strategy has a max APR of Prime +12.99 and a max limit of $500.00. In order for a soft pull and normal account review to put you onto the "wx5c" strategy your soft pull might have to be 760+ and meet income and other score qualifications satisfactorily. So, you could very well be sitting there at 730 and are actually qualified for the "wx5c" strategy, but you will never get it "automatically" until you hit that higher threshold.

Now, assume in the same situation, that you still have that 730 and you call in and request an account transfer and they take a hard pull. You will now be examined on the merit of that application and your lower account strategy will not be counted against you. However, if you have a bad internal behavior score that WILL BE counted against you.

This is an overly simplified example, of course. I hope I articulated it OK. This is how it works for most larger banks. Whether or not it works this way for Target Card Services, I don't know for certain. Using the responses in this thread as anecdotal evidence, I tend to think so.

Well if you are right I'm pretty much screwed.....:lol:

Thanks for the info though. That's pretty interesting stuff! :mrgreen:

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OP---where are you?. Going to $5k with Target is amost too much to believe.

I've had my Target Redcard since June or so of this year. It started off with a $200 limit, then about 3 months later I noticed (online) that they increased me to $500. Today I log in and my limit is now $5000! I've been on vacation for over 3 weeks so I haven't seen any mail, but I'm guessing and hoping that it's an upgrade to the Target VISA. Anyone else have a redcard increased up this high without being switched to the VISA?
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OP---where are you?. Going to $5k with Target is amost too much to believe.

If you had 5k to blow would you be here posting?? lol

Again, I just hope he's not incarcerated... somewhere around here is a post he said he had some warrants activated for one reason or another.

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If you had 5k to blow would you be here posting?? lol

Again, I just hope he's not incarcerated... somewhere around here is a post he said he had some warrants activated for one reason or another.

Ooooh no. That would be bad. No shopping at Target if that were the case. :(

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